Many insurers will offer discounts on insurance coverage for teens who maintain a certain grade point average.
A teenager getting their license can be a scary event for any parent, whether it has to do with worrying about safety or just watching a child get that much closer to adult independence. It can also be an expensive time for parents. Besides the costs of buying another car or sharing one between more family members, there is vehicle maintenance and gas to think about, as well as getting car insurance for the teen driver. Unfortunately, teens generally face the highest insurance rates due to driving (and life) inexperience. Luckily, there are ways to reduce costs when it comes to auto insurance. The trick is knowing what works and what doesn’t:
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As with any purchase, it pays to shop around. Opting for the first insurance company a parent finds, or one that they’re already doing business with, may not be the best decision. Rates and family packages vary from company to company, and some may focus specifically on offering deals for young drivers.
Grades
Many insurers will offer discounts on insurance coverage for teens who maintain a certain grade point average. A young person who excels academically shows a level of responsibility insurers like, making good grades a money saver for all involved.
Knowledge
While most parents will likely pass on their own driving knowledge to their teens, investing in some extra new driver training can help offset insurance rates. Even if a teen’s state does not require driver’s education courses, completing them can also lead to insurance discounts. Parents should find out what kind of discounts their insurer (or potential insurer) offers for additional education and consider enrolling their teen.
Vehicles

While the driver in question is the most important factor regarding insurance prices, the vehicle they’re using makes a big difference as well. Certain vehicles, especially sports cars and motorcycles, will lead to more expensive insurance rates. By investing in a safe and reliable ride, parents can help protect their teens while also saving on insurance.